Losing employment is very seldom welcome, but can happen to many of us during our working lives. Many people have used redundancy as an opportunity for positive change in their lives and careers.
Losing employment is very seldom welcome, but can happen to many of us during our working lives.
Many people have used redundancy as an opportunity for positive change in their lives and careers. What is important is how you react to a situation which is not of your making so that the understandable negative sentiment is not drawn out any longer than it needs to be.
Such a scenario can be caused by any number of situations, e.g. falling profits, lack of trade or orders, increased competition, advances in technology, changes in legislation, even poor management can be a cause for businesses having to let people go.
Holyrood Asset Management Limited can assist guiding you through the many financial decisions that have to be made at this difficult time, as well as advising on how to structure your affairs to allow you to cope with these changes.
We can assist you with the uncertainty which can affect your financial planning, providing help and assistance. This includes assessing your existing financial planning products and considering whether you can claim on insurances such as unemployment cover, ascertain your eligibility for any relevant benefits, or indeed whether it would be best to retain or cancel specific policies.
We would also look at tax and investment planning around any financial package from your employer. You may, depending on your circumstances, decide to retire or change career and in both cases we will be able to provide advice for you to consider if you want to go down this route.
It may also be advisable to consider discussing your situation with an appropriate legal professional to ensure you are being treated fairly and receiving all of the benefits you are entitled to. This type of service may be available from a union or trade association. If not, we can put you in touch with specialists in these areas as required.
Tax Planning is not regulated by the Financial Conduct Authority.